Ferrari (RACE) Scheduled to Post Quarterly Earnings on Thursday

Ferrari (NYSE:RACE) is set to issue its quarterly earnings data before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $2.23 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. On average, analysts expect Ferrari to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Stock Down 0.3 %

Shares of NYSE:RACE opened at $410.46 on Wednesday. Ferrari has a 1-year low of $285.02 and a 1-year high of $442.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. The company has a 50 day moving average price of $417.46 and a 200 day moving average price of $408.56.

Analyst Ratings Changes

A number of analysts recently weighed in on RACE shares. Sanford C. Bernstein raised their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Bank of America raised their price objective on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Evercore ISI raised their price objective on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Jefferies Financial Group began coverage on shares of Ferrari in a research note on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective for the company. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $461.67.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.